Re-enacts the sliding fee schedule in effect prior to January 1, 1997, for personal representatives rendering trust and probate services.

A BILL FOR AN ACT

SECTION 1. Section 560:3-719, Hawaii Revised Statutes, is amended to read as follows:

"§560:3-719 Compensation of personal representative. (a) A personal representative is entitled to reasonable compensation for the personal representative's services[.], as set forth in subsection (b). If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, the personal representative may renounce the provision before qualifying and be entitled to reasonable compensation[.] as set forth in subsection (b). A personal representative also may renounce the personal representative's right to all or any part of the compensation. A written renunciation of fee may be filed with the court.

(b) A personal representative is entitled to a reasonable fee for the ordinary services rendered by the personal representative to an estate at the following rates computed on the value of the probate assets as of the date of the death of the decedent as finally determined for federal estate tax purposes or, if none, for state inheritance tax purposes:

(1) per cent of the first $15,000;

(2) per cent of the next $85,000;

(3) per cent of the next $900,000;

(4) per cent of the next $2,000,000; and

(5) per cent of the excess over $3,000,000.

The personal representative shall be entitled to further allowances as the court deems just and reasonable for services performed in connection with the sale, lease, or management of real estate; contested or litigated claims against the estate; the preparation, adjustment, and payment of estate, inheritance, and income taxes and the return therefore; the carrying on of the decedent's business; litigation or settlement of disputes in regard to the estate; and such other special services as may be necessary for the personal representative to perform, prosecute, or defend."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.